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Nigeria in 1min: Economic, Business " Financial Headlines – 011117

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November 1, 2017 7:20 AM / Proshare News 

PROSHARE ECONOMY

Nigeria Up 24 places To 2013 Levels In World Bank Doing Business Report - After a poor show last time, Nigeria moved up 24 positions to rank 145th in Global Ease of Doing Business, according to today’s release from the World Bank.  Source Proshare Read More 

FG grows VAT collection by 19.78% in 2017 - Revenue from Value Added Tax (VAT) grossed N797.51bn into the Federation Account between January and October 2017, an increase of 19.78 per cent over the corresponding period in 2016, the Minister of Finance, Mrs. Kemi Adeosun, has said. Source Daily Trust Read More 

‘New Abuja airport terminal ready February 2018’ - The new international terminal building at the Nnamdi Azikiwe International Airport (NAIA) Abuja will be ready by February 2018. Source Daily Trust Read More 

We’ll consider Nigeria’s $400m loan request, says AfDB - The African Development Bank on Tuesday said it could consider Nigeria for an additional $400m loan if such a request was approved by its Board. Source Punch Read More 

Fine to Borrow But With Tangible Benefits - The FGN’s domestic debt service payments have soared in line with issuance from N354bn in 2010 to N1.20trn in 2016, and are set to continue their upward trend due to its expansionary fiscal stance.  Source Proshare Read More 

FG hands over design of Apapa-Oworonshoki road to Dangote - The Federal Government has handed over the design of the 35km stretch Apapa-Oshodi-Oworonshoki Expressway to Dangote Group in furtherance of steps by the government to rehabilitate the all-important road. Source BUSINESSDAY Read More 

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2017 FCT Budget passes Second Reading in Senate - The 2017 Federal Capital Territory (FCT) Appropriation Bill of N222,360,551,512 has scaled Second Reading in Senate. Source BUSINESSDAY Read More 

Nigerian poultry farmers say imports threaten N330bn market - Despite the huge potentials in Nigeria’s poultry industry, the $917 million (N330bn) chicken meat market, a segment of the industry, is still struggling to grow as smuggling of imported chicken products continues to find its way into the country’s markets in high volumes. Source BUSINESSDAY Read More 

Again, Nigeria’s Manufacturing Index Sustains Expansion - The Manufacturing Purchasing Managers’ Index (PMI) stood at 55 index points in October 2017, indicating an expansion in the manufacturing sector for the seventh consecutive month. Source Thisday Read More 

NAFDAC Slashes Registration Fees for Food and Products by 50% - The National Agency for Food and Drugs Administration and Control NAFDAC has slashed the registration fees for food and products by business outfits by 50%. Source Thisday Read More 

PROSHARE MARKETS

NSEASI Maintains Uptrend by 0.54% as Market Breadth Closes Negative - Equities market closed today on a positive note, as NSE ASI appreciated by +0.54% to close at 36,680.29 basis points as against +0.06% appreciation recorded previously.  Source Proshare Read More 

CBN Pumps Another $195m into Forex Market - The Central Bank of Nigeria (CBN), on Tuesday injected another $195 million into the interbank foreign exchange market. Source Thisday Read More 

TISE Listings Among Brexit Opportunities For Isle Of Man - New listings on The International Stock Exchange (TISE) are among the opportunities for the Isle of Man’s financial services industry arising from Brexit, according to Carolyn Gelling, Head of Isle of Man Office at The International Stock Exchange Group.  Source Proshare Read More 

Dubai Financial Services Authority Continues To Develop Its Funds Industry - The Dubai Financial Services Authority (DFSA) has today consulted on a comprehensive package of proposals to support the continued development of the growing funds industry in the Dubai International Financial Centre (DIFC). Source Proshare Read More 

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Nigeria's Access Bank eschews M&A in Ghana growth strategy - Nigeria’s Access Bank plans to pursue organic growth in Ghana rather than mergers or acquisitions after the central bank raised the minimum capital requirement for lenders in the West African country, its group chief executive said on Tuesday. Source Reuters Read More 

Union Bank closes application for N50b rights issue - Union Bank of Nigeria (UBN) Plc has closed the application list for its N50 billion rights issue. The application list for the rights issue opened on September 20, 2017 and closed on Monday October 30, 2017. Source THE NATION Read More 

Total Nigeria, Nigerian Breweries to pay N8.9b interim dividend - The boards of directors of Total Nigeria Plc and Nigerian Breweries Plc have recommended payment of N8.92 billion as interim cash dividends to shareholders. The two sectoral leaders have just have just  released their third-quarter results. Source THE NATION Read More 

Can $60 Oil Last? - Brent is back at $60 for the first time in more than two years, but the big question is: Can crude hold onto its gains? Source Proshare Read More 

Oil price rises to $61 per barrel - Global oil benchmark, Brent crude, rose above $61 per barrels on Tuesday after a week of gains as the prospect of increasing United States exports dampened bullish sentiment that has driven Brent crude to more than two-year highs above $60 per barrel. Source Punch Read More 

Govt saves $2b from local cement production - Nigeria has saved $2 billion from local production of cement in the past one year Chairman, BUA Group, Abdulsamad Rabiu, has said. Source THE NATION Read More 

Daily Energy Generation Attained a Peak of 3,880MW in Q3 2017 - NBS - The power generation statistics for Q3 2017 reflected that a total average of 82,266 MWh of energy was generated daily by power stations. Source Proshare Read More 

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PROSHARE BUSINESS

Leadership Development in Nigeria Takes Centre Stage In 2018 - A private initiative to reposition Leadership in Nigeria is coming on-stream in 2018. This would play a pivotal role in addressing the leadership challenges that has been identified over the years as a major setback to the corporate and socio-economic development of the Nigerian nation. Source Proshare Read More 

Communique of the 17th Edition Of the NECCIPR Roundtable Held On 26th October 2017 - The 17th Edition of the NECCIPR Roundtable held on October 26, 2017 at the Four Points by Sheraton Hotel, Oniru, Victoria Island, Lagos. Source Proshare Read More 

Italian Judge Expected to Rule on Eni, Shell Indictment over Malabu Oil Deal Dec 20 - An Italian judge is expected to decide on December 20 whether to send oil majors Eni and Shell to trial over alleged corruption in Nigeria, two legal sources said on Tuesday. Source Thisday Read More 

South Korea Exports, Inflation Miss Expectations in October - South Korea’s exports expanded at a slower pace than expected in October, affected by a national holiday that lasted more than a week. Inflation weakened slightly but remained near the central bank’s 2 percent target. Source Bloomberg Read More 

Japan Leads Stocks Rally; Nickel at Two-Year High - Stocks in Asia started the month on a positive note, trading near all-time highs, with technology shares and a weakening yen underpinning a rally in Japan. Nickel surged as investors bet on a boost in demand for the metal. Source Bloomberg Read More 

Brexit Cuts U.K. Household Incomes by 600 Pounds, Niesr Says - The U.K.’s decision to leave the European Union is cutting disposable income by more than 600 pounds ($795) per household, according to the National Institute of Economic and Social Research. Source Bloomberg Read More 

South African Jobless Rate at 14-Year High as Economy Stalls - South Africa’s jobless remained at a 14-year high in the third quarter as the continent’s most-industrialized economy staged a weak recovery from a recession. Source Bloomberg Read More 

Saudi Arabia Leads Gulf Nations in Cutting Break-Even Oil Price - Saudi Arabia, OPEC’s biggest oil producer, is also a leader when it comes to slashing the crude price the country needs to balance its budget. Source Bloomberg Read More 

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PROSHARE TECHNOLOGY

SIM registration: More cards to be blocked as NCC sets up taskforce - The Nigerian Communications Commission (NCC) said the menace of improperly registered, unregistered and pre-registered Subscriber Identification Module (SIM) cards will no longer be tolerated. Source Daily Trust Read More 

MTN to defend 'opportunistic' $4.2 bln suit in South African court - MTN sees a $4.2 billion claim by Turkcell in a South African court over a disputed Iranian mobile phone licence as “opportunistic” and “baseless”, the company said on Tuesday after filing a defence plea. Source Reuters Read More 

Bitcoin Surges After World's Biggest Exchange Announces Plans for Futures - The allure of bitcoin was too much for CME Group Inc. Source Bloomberg Read More 

Hilton data breaches lead to $700,000 penalty - The attorneys general of New York and Vermont both announced today that their joint investigation into two Hilton data breaches has resulted in a $700,000 penalty and a promise to strengthen security. Source Engadget Read More 

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